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Auslanco - GBP/JPY and GBP/USD (newstrade)

  • #60,561
  • Jan 30, 2008 8:03pm Jan 30, 2008 8:03pm
Q, just curious so charts are showing that Daily candle is still above Gann Hi Lo dont you think we can still see a little up movement
  • #60,562
  • Jan 30, 2008 8:14pm Jan 30, 2008 8:14pm
Quoting vinesh2
Q, just curious so charts are showing that Daily candle is still above Gann Hi Lo dont you think we can still see a little up movement

Ya, thats mostly what we thinking... 200-300 pips is little up for GJ. Down it will go later on.. we'll c.
Monthly Profit & Lost :- May - +85 pips
  • #60,563
  • Jan 30, 2008 8:24pm Jan 30, 2008 8:24pm
Hello Markam,

Thank you for your contributions to this thread which i value highly.
Also for your prediction of 175 by summer. I have a question which may have been asked before but wonder if that was connected to a long term trade say 4-6 months. I am with MG- they charge swaps of $105 today (140 last week) for GBP/JPY sell trade.Which wud make about $2000 for a $1 trade.
About half your profits go on swaps or have i got that wrong?

Regards novice.
  • #60,564
  • Jan 30, 2008 8:30pm Jan 30, 2008 8:30pm
Don't rush, next target 209.70. Looking good

R

Quoting JasonGuillen
We still think we're south bound?

I need to exit if we're turnin....
  • #60,565
  • Jan 30, 2008 8:34pm Jan 30, 2008 8:34pm
Quoting Rocroy
Don't rush, next target 209.70. Looking good

R
today ? you think it'll get there ?
  • #60,566
  • Jan 30, 2008 8:37pm Jan 30, 2008 8:37pm
I'm a great fan of trendlines, this one played out very nicely. Actually no other indicators are needed. In some rare occasions i take a look at stochs, though.

R

Quoting arezab
As you can see in picture, market breaks lower trend line of demark indicator and fib levels at the same time, so this can be a very powerful and reliable breakout signal. The targets set by demark indicator worked fine because they where right on fib extension levels.

I'm just working on this combination. I think it is accurate and reliable.

Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: gj now.gif Size: 16 KB
  • #60,567
  • Jan 30, 2008 8:40pm Jan 30, 2008 8:40pm
No, i can not say that. But the overall trend is now down, and that seems to be the next bigger target. See my other post with the chart.

It was nice to wake up a few minutes ago and notice those 400 pips...

R

Quoting kujo17
today ? you think it'll get there ?
  • #60,568
  • Jan 30, 2008 8:42pm Jan 30, 2008 8:42pm
Not asking you to 'call' it....
My thoughts were pretty much the same, so........
I had that same long term lower TL on my charts too.
Held up for quite a while too.

kj
  • #60,569
  • Jan 30, 2008 8:43pm Jan 30, 2008 8:43pm
hey I entered long a lil while ago but since its slow right now and its making me think the other way around so shud I get out of it and short it ? orrrrrr shud I let it go ?
  • #60,570
  • Jan 30, 2008 8:45pm Jan 30, 2008 8:45pm
Quoting Rocroy
Don't rush, next target 209.70. Looking good

R
I calmed down.

I stepped away from my compy, and was freaked out when I returned.

I ALWAYS set stops....ALWAYS.
Not this time. I hurried.


Come back and am 20% down, caught short while it's retracing to the
38.2. Crapped my pants for a few, then set a Hedge. Now, my loss is held even,and All I have to do is wait for an inevitable downturn.

Waiting cannot be worse than losing that much. I have faith it will drop.
  • #60,571
  • Jan 30, 2008 8:46pm Jan 30, 2008 8:46pm
Added to long position 211.01
"Millionaires don't use astrology, billionaires do"
  • #60,572
  • Jan 30, 2008 8:49pm Jan 30, 2008 8:49pm


Quoting kujo17
Not asking you to 'call' it....
My thoughts were pretty much the same, so........
I had that same long term lower TL on my charts too.
Held up for quite a while too.

kj
  • #60,573
  • Jan 30, 2008 8:57pm Jan 30, 2008 8:57pm
Short from 211.80, targeting 50% retrace at 209.40 for now, could be a whole lot lower before its done however.

I had a pending short from 214 that never got hit today. I was getting impatient and entered off the 23.6 fib
Attached Image (click to enlarge)
Click to Enlarge Name: custom.gif Size: 23 KB
  • #60,574
  • Jan 30, 2008 8:57pm Jan 30, 2008 8:57pm
Quoting Novice
Hello Markam,

Thank you for your contributions to this thread which i value highly.
Also for your prediction of 175 by summer. I have a question which may have been asked before but wonder if that was connected to a long term trade say 4-6 months. I am with MG- they charge swaps of $105 today (140 last week) for GBP/JPY sell trade.Which wud make about $2000 for a $1 trade.
About half your profits go on swaps or have i got that wrong?

Regards novice.
That is what sucks about this currency pair, and that is why people are always wanting to go long. However, I believe economic conditions are going to force the yen to strengthen and the pound to weaken, so GJ is going to have to go down further. The swap is the price you have to pay. I do hedge during up periods to protect profits and reduce my interest costs.
  • #60,575
  • Jan 30, 2008 9:02pm Jan 30, 2008 9:02pm
175 by summer??? based on what?
Nihil Sine Deo.
  • #60,576
  • Jan 30, 2008 9:03pm Jan 30, 2008 9:03pm
Why don't you use a swapfree account?

R

Quoting markam
That is what sucks about this currency pair, and that is why people are always wanting to go long. However, I believe economic conditions are going to force the yen to strengthen and the pound to weaken, so GJ is going to have to go down further. The swap is the price you have to pay. I do hedge during up periods to protect profits and reduce my interest costs.
  • #60,577
  • Jan 30, 2008 9:05pm Jan 30, 2008 9:05pm
Hi Lep, you were testing Aleccoh some time ago. I'm now doing the same. What was the outcome, have you opened an account with them?

R

Quoting lepiricus
Short from 211.80, targeting 50% retrace at 209.40 for now, could be a whole lot lower before its done however.

I had a pending short from 214 that never got hit today. I was getting impatient and entered off the 23.6 fib
  • #60,578
  • Jan 30, 2008 9:07pm Jan 30, 2008 9:07pm
What does it look like?

R

Quoting h4udear
hey I entered long a lil while ago but since its slow right now and its making me think the other way around so shud I get out of it and short it ? orrrrrr shud I let it go ?
Attached Image (click to enlarge)
Click to Enlarge Name: gj now.gif Size: 12 KB
  • #60,579
  • Jan 30, 2008 9:10pm Jan 30, 2008 9:10pm
Quoting Scrat
175 by summer??? based on what?
England's economy collapsing faster than America's
  • #60,580
  • Jan 30, 2008 9:17pm Jan 30, 2008 9:17pm
Quoting Rocroy
Hi Lep, you were testing Aleccoh some time ago. I'm now doing the same. What was the outcome, have you opened an account with them?

R
Great memory bro. Indeed I am trading live with them. Their spreads are not fantastic but other than that I am completely satisfied with their feed and trade execution.
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